Univariety is an edutech startup that helps schools provide up-to-date collage and career advice to their students. The startup announced on Wednesday (20/12/2017) that it has secured Rs. 12.5 crores in seed round of funding from the VC firm, Info Edge. The funds secured will be used to upgrade the startup’s technology platform (mobile app) and strengthen its sales and marketing team. Read more on Investments
“Info Edge is truly a pioneer in the internet space and has wide-ranging expertise. I am thrilled to partner with them on our exciting journey. These funds will be utilised in developing a stronger sales and marketing system and in upgrading our product to suit the mobile environment fully. We are confident of the impact we have on our partner schools and now we will be able to reach out to a larger audience”, Jaideep Gupta, Founder of Univariety said.
“Top colleges like IITs and IIMs are known for their placements and alumni network. Univariety is bringing that same awareness and those systems at the K-12 school level. We believe that thousands of schools are interested in shaping students’ success and aligning to future trends. Univariety can play a strong role in helping position such schools uniquely”, said Hitesh Oberoi, MD and CEO of Info Edge.
With the global education industry likely to be valued at US $93.76 billion by 2020, it is no surprise that VC firms are increasingly interested in and are investing in edutech startups.
The other edutech startups to secure investments this year (2017) include the edutech startup, Myly, which secured undisclosed amount of loan from Small Industries Development Bank of India (SIDBI) during April, this year. The edutech startup, VoLT, secured an undisclosed amount of seed funding from YMS Mobitech during November, 2016. The edutech startup, Springboard, secured US $9.5 million in Series A round of funding from Costanoa Ventures during December, this year (2017) just to name a few. Read more on Startup News